Question

abit Lamarand Pardare partners sharing profits in the ratio of 5:3:2. Their capitals as on 1st April 2019
- 6020000 Zava-220,000 and Parul - 200,000
The Partnership Deed provided an tolows
and Zoar each widget salary of * 24.000 pa.
Paula get common of of Sales
Interest en copetala tobed a
trest on Dwing to be charged pa
Mtos of
D e Posto be transferred to General Reserve
Sales for the yeaended on Mach 2020 5000.000 Drawings by each of the partners during the
year waste Pro for the yout 155.000
Pepe profit and less Appropriation Account for the year ended 31 March 2020
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Answer 1

Explanation:

Interest on Drawings is to be charged @ 5% p.a.

Interest on Drawings is to be charged @ 5% p.a.(v) 10% of Divisible Profit is to be transferred to General Reserve.

Interest on Drawings is to be charged @ 5% p.a.(v) 10% of Divisible Profit is to be transferred to General Reserve.Sales for the year ended 31st March, 2020 were 50,00,000. Drawings by each of the partners during the

Interest on Drawings is to be charged @ 5% p.a.(v) 10% of Divisible Profit is to be transferred to General Reserve.Sales for the year ended 31st March, 2020 were 50,00,000. Drawings by each of the partners during theyear was 60,000. Net Profit for the year was 1,55,500.